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Volvo is Latin for "I roll" or "I turn." Combined with their company logo, which stands for iron ore, the name and logo represent "Rolling Strength."
The automaker Volvo Cars, or Volvo Personvagnar, was founded August 10, 1926 in the city of Gothenburg, as a spin-off from roller ball bearing maker SKF (Svenska Kullagerfabriken AB). Volvo Cars, the automaker, has been owned by the Ford Motor Company since 1999.
Volvo sold the automobile unit for many reasons, including the cost of developing new models for a relatively small producer such as itself.
The buyout of Volvo Cars was announced on January 28, 1998. In the following year acquisition was completed at a price of $6.45 billion USD.
Volvo Automotive's motto is "Volvo for life" attributed to the reliability and safety of their cars.
Volvo has 2,500 dealerships worldwide in 100 markets; 60% of sales come from Europe, 30% from North America, and the other 10% is from the rest of the world. As a premium car manufacturer, Volvo's flagship models tend to be luxurious, while their entry-level models do not.
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